NORDSCI Conference proceedings 2018, Book 2

Law

CRYPTOLIABILITY

DSc. Denis A. Pechegin

ABSTRACT

Funds are the core of the financial system of any modern state. Initially, the money comes from private funds; however, the development of the economy and other factors at the time led to the abandonment of private money and the establishment of a unified monetary system in most countries. Despite this, the development of Internet technologies and trading techniques in real-time has led to the revival of the idea of private money.
In accordance with official forecasts of the development of the domestic economy (development Concept and Security Strategy), the imbalance in world trade and capital movements will continue and may increase in the coming years, which will contribute to changes in the exchange rates of world currencies.
The topic is crucial today, because no one in the whole world wants to consider the question of liability in the cryptosphere. Thus, the draft Federal law "On amendments to the Federal law "On the development of small and medium-sized businesses in the Russian Federation" and the draft Federal Law "On amendments to the Federal Law "On digital financial assets" provides for the formation of special platforms (crypto-exchange, operators, etc.). However, they do not regulate the liability of professional participants of the emerging new crypto market.
This paper is prepared on the basis of a legal and technical analysis of legal norms, as well as comparative legal and formal-logical methods; i.e., the method of systemic analysis. The goal of this paper is to consider this problem and to suggest possible solutions, including in the field of criminal, tax and budget legislation

KEYWORDS

cryptocurrency, cryptosphere, liability, cryptocurrency exchange market, cryptorisks.

REFERENCE

NORDSCI Conference Proceedings 2018, Conference Proceedings, ISSN 2603-4107, ISBN 978-619-7495-01-0, CRYPTOLIABILITY, 293-298 pp, DOI paper 10.32008/nordsci2018/B2/V1/42